ONEOK, Inc. (NYSE:OKE) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740,553 shares of the utilities provider's stock after purchasing an additional 40,196 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of ONEOK worth $73,478,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter worth $539,554,000. Wellington Management Group LLP increased its position in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after acquiring an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after acquiring an additional 1,971,147 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ONEOK during the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in shares of ONEOK during the fourth quarter worth $177,045,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.5%

OKE stock traded down $0.42 during trading on Friday, reaching $81.73. The stock had a trading volume of 1,757,598 shares, compared to its average volume of 3,447,486. The firm has a fifty day moving average price of $82.27 and a 200 day moving average price of $91.50. The company has a market capitalization of $51.45 billion, a P/E ratio of 15.96, a PEG ratio of 1.61 and a beta of 0.93. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.09 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is 80.47%.

Analyst Ratings Changes

OKE has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank lowered their target price on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $104.08.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.